What is a vostro account? How banks hold money for each other
By SendPay Business · · 2 min read
A vostro account is an account that a bank holds for another bank, in its own currency. The name comes from the Latin for "yours": from the holding bank's side, it is "your account with us".
Vostro vs nostro
It is the same account seen from two sides. If a UK bank keeps US dollars in an account at a US bank, the UK bank calls it its nostro ("ours") account, and the US bank calls it a vostro ("yours") account.
How it moves money abroad
- A customer of a foreign bank sends money to someone in the UK.
- The foreign bank's vostro account at a UK bank is debited.
- The UK bank pays the money on to the receiver's account.
Why it matters to customers
When a payment passes through one or more of these banking relationships, each bank in the chain can take a fee. That is one reason an international transfer can arrive with less than was sent.
Where SendPay fits
SendPay platforms include GBP, EUR and USD accounts and international transfers under your own brand, powered by licensed partners.
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What is a nostro account?
The same account seen from the other bank's side.
What is a nostro account? →Read next
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.